Fulcrum Capital LLC Buys 104,232 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fulcrum Capital LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1,184.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,031 shares of the information services provider's stock after purchasing an additional 104,232 shares during the quarter. Alphabet makes up approximately 3.9% of Fulcrum Capital LLC's investment portfolio, making the stock its 6th largest holding. Fulcrum Capital LLC's holdings in Alphabet were worth $17,495,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOG. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in Alphabet during the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet during the fourth quarter valued at about $43,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the transaction, the director now owns 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,533 shares of company stock valued at $26,772,774 over the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.09 on Friday, hitting $170.87. The company's stock had a trading volume of 36,230,934 shares, compared to its average volume of 20,239,371. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a fifty day moving average price of $160.88 and a 200-day moving average price of $176.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOG. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Benchmark reissued a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.